Published: Wednesday, June 19, 2013 at 4:26 p.m.

Last Modified: Wednesday, June 19, 2013 at 4:26 p.m.

The Sea Trail Golf Resort and Conference Center has a new owner – and he could bring a foreign flavor to southwestern Brunswick County.

The resort was sold Tuesday for $8.5 million to a Chinese investor, identified only as Mr. Pan, during a bankruptcy auction, according to a press release from Tryon Capital Ventures, a company representing Mr. Pan's company. The sale will be finalized in mid-July.

Pan is a successful investor from China and enlisted Tryon Ventures to help with the purchase, according to the release. He is described as an industrialist in China who has considerable real estate holdings in his country.

"This is Mr. Pan's first investment in the U.S. and he is excited about the opportunity to re-vitalize Sea Trail as an outstanding resort and conference center," said Pete Coker, a managing director at Tryon Capital Ventures, in the release. "We look forward to assisting with the transition to new ownership and working with his team to bring renewed life to this award-winning Sunset Beach golf resort community."

The resort, once listed at more than $34 million, included the sale of the 58,000 square feet of meeting and event space, an activity center with indoor and outdoor pools and three golf courses.

The property was put on the market not long after Sea Trail Corp. filed for Chapter 11 bankruptcy in September 2011.

In its filing, Sea Trail listed debts of more than $22 million, including about $500,000 to Brunswick County and nearly $15.5 million to Waccamaw Bank, which failed and was then taken over by First Community Bankshares Inc.

Peter Reichard, the newly named chief executive officer of Sea Trail, said Pan liked the idea of the property.

"He liked the fact that it had other amenities (besides a golf course) on it," Reichard said. "And very importantly it has other developable land – 200 acres worth."

The plan is to fix the properties up and restore the resort to "its glory days," Reichard said.

"It needs a lot of tender love and care, but we are going to rework it and take it to the next level," he said.

The resort is connected to the Sea Trail Plantation residential community, which was not affected by the bankruptcy.

John Goodrich, president of the Sea Trail Master Association, said he is encouraged by the investor's vision for the property.

"We have every expectation that its condition will be restored and even improved, " Goodrich said. "It's very exciting for the homeowners."

<p>The Sea Trail Golf Resort and Conference Center has a new owner – and he could bring a foreign flavor to southwestern Brunswick County.</p><p>The resort was sold Tuesday for $8.5 million to a Chinese investor, identified only as Mr. Pan, during a bankruptcy auction, according to a press release from Tryon Capital Ventures, a company representing Mr. Pan's company. The sale will be finalized in mid-July.</p><p>Pan is a successful investor from China and enlisted Tryon Ventures to help with the purchase, according to the release. He is described as an industrialist in China who has considerable real estate holdings in his country.</p><p>"This is Mr. Pan's first investment in the U.S. and he is excited about the opportunity to re-vitalize Sea Trail as an outstanding resort and conference center," said Pete Coker, a managing director at Tryon Capital Ventures, in the release. "We look forward to assisting with the transition to new ownership and working with his team to bring renewed life to this award-winning Sunset Beach golf resort community."</p><p>The resort, once listed at more than $34 million, included the sale of the 58,000 square feet of meeting and event space, an activity center with indoor and outdoor pools and three golf courses.</p><p>The property was put on the market not long after Sea Trail Corp. filed for Chapter 11 bankruptcy in September 2011.</p><p>In its filing, Sea Trail listed debts of more than $22 million, including about $500,000 to Brunswick County and nearly $15.5 million to Waccamaw Bank, which failed and was then taken over by First Community Bankshares Inc.</p><p>Peter Reichard, the newly named chief executive officer of Sea Trail, said Pan liked the idea of the property. </p><p>"He liked the fact that it had other amenities (besides a golf course) on it," Reichard said. "And very importantly it has other developable land – 200 acres worth."</p><p>The plan is to fix the properties up and restore the resort to "its glory days," Reichard said.</p><p>"It needs a lot of tender love and care, but we are going to rework it and take it to the next level," he said.</p><p>The resort is connected to the Sea Trail Plantation residential community, which was not affected by the bankruptcy.</p><p>John Goodrich, president of the Sea Trail Master Association, said he is encouraged by the investor's vision for the property. </p><p>"We have every expectation that its condition will be restored and even improved, " Goodrich said. "It's very exciting for the homeowners."</p><p>The property has been in operation for more than 25 years.</p><p><a href="http://www.starnewsonline.com/section/topic9907"><b>Jason Gonzales</b></a>: 343-2075</p><p>On <a href="http://www.starnewsonline.com/section/news41"><b>Twitter</b></a>: @Starnews_Jason</p>